Pfizer has accelerated its move into new technologies, announcing it will invest US$500 million in the construction of a gene therapy manufacturing facility in the US.
The announcement comes after its recent decision to spin-out its portfolio of generics through a merger with Mylan - the company is strategically focused on oncology and new technologies.
Pfizer is developing a number of gene therapies in areas like hemophilia through partners such as Sangamo Therapeutics.
The new manufacturing facility will be based in North Carolina (Sanford) where the company already employs 3,600 people.
"By expanding its manufacturing footprint in Sanford, Pfizer expects to strengthen its ability to produce and supply both clinical- and commercial-scale quantities of critical, potentially life-changing gene therapy medicines to patients living with rare diseases around the world," said the company.
"Specifically, the new facility would help advance Pfizer’s work in manufacturing highly specialized, potentially one-time gene therapies that use custom-made recombinant adeno-associated virus (rAAV) vectors."
“At Pfizer, our purpose is breakthroughs that change patients’ lives,” said Angela Hwang, group president of the Pfizer Biopharmaceuticals Group.
“We’re excited to build this new state-of-the-art facility in Sanford because it will have the potential to help us develop novel methods to deliver transformative treatments to patients.”